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Could money issues end your marriage?

On Behalf of | Jul 6, 2022 | Family Law |

Everyone runs into different issues with money at some point in their life. It can be stressful and frustrating. Ideally, you’ll find solutions and work your way through it.

However, studies have also found that couples argue about money more than almost anything else. The top three reasons are sex, money and children. They’ve also found that financial stress can really take a toll on the relationship between the two individuals. As a result, money is one of the main reasons that people decide to seek a divorce.

Two types of significant financial problems

There are many ways that this can happen, but we’ll take a look at two of the main financial problems that harm relationships. The first is simply that the couple doesn’t have enough money to pay the bills. This is why job loss often causes divorce. It’s also why issues with addiction to something like gambling or drinking can play a role. Even high earners may run into financial problems if their spending is out of control.

Another problem that sometimes happens is that people simply want to do different things with their money and they can’t agree. You might want to take your money and spend it on your new business, but your spouse wants to save all of that money for retirement. If the two of you can’t compromise, you may end up having to get divorced so that you can both make the financial decisions you’d like to make.

If you do end up getting a divorce, be sure you understand what rights you have. Since issues with money are what started this, you definitely need to know how to protect the assets that you deserve during the divorce.